~ Costa Rica Real Estate - A Brief Overview ~
Real Estate is BIG business down here in Costa Rica. The recent economic crisis the world is feeling, has not been as much of an issue here as elsewhere. The tourism markets have been hit pretty hard and although Real Estate sales have slowed down, land prices and property values, have remained very stable.
What this means is that if you have already invested in Costa Rica Real Estate, no worries, your investment is secure. If you are looking to get into the market here, than it is your lucky day, there are many deals to be made with foreigners, needing to liquidate, due to the crisis going on in their home countries. This creates an atmosphere of selling property well below the market value. If you are one of the few, unaffected by the global turmoil, now is a good time to buy. Most likely, the property you just bought has appreciated, instantly, from day one.
Condo sales have been hit by the global money crisis the most in Costa Rica. Before the financial markets crashed, condo development had been going through the roof. With less people buying right now it has driven some condo developers to desperate measures. This is good news for you, the consumer. Many condos at many price points are available. Try getting a condo on the beach in Florida for 150k or less. Not likely. Between Florida or Costa Rica, I'll take Costa Rica.
There can be a downside to trying to purchase Real Estate in Costa Rica. There are many scams here, as can be found the world over. A common practice is for someone to sell the same piece of property, over and over, to as many people as possible, and bolt. Buyer Beware, if the deal really seems to good to be true, it's probably is. Use common sense. You may have also heard of squatters in Costa Rica. While it is true squatting has been a problem in the past, it should be noted that squatters only have rights on very specific types of land. They cannot move into your beach house while you're out of the country and claim it for themselves. Farm land, is the only land in Costa Rica, that squatters have a chance of causing you problems. In addition, tougher enforcement of existing laws have made it harder and harder for these folks to squat.
What is it we do?
Real-estate Con-sult-ant: [rē′ əl, e stā′t, kən sult′nt] – pronoun
1. Consults with you, rather than selling to you; 2. Believes Real Estate isn’t one size fits all; 3. Offers a menu of choices; 4. Customizes a plan based on your needs, goals and budget; 5. Provides complete transparency of all fees; 6. Has extensive Real Estate and Business background; (by Brent Farzier)
Through our Real Estate Consulting services, we will be able to narrow down your search area. We will take all your needs into consideration, location, weather, services / infrastructure, amenities, budget, with these aspects covered, we will save you considerable time and money in the real estate process. After we have narrowed down the search we will refer you to one of our Agents who will only show you the properties that match your specific requirements. These are reputable agents you can trust, they won't try and talk you into something that you don't really want or can't afford.
As always, our services are 100% FREE. Simply contact us to start the process.
In our time living here, we can now barely imagine living anywhere else. We hope we can help you find you your own little piece of paradise.
We have Top Notch Agents, in our network, for the following areas.
San Jose / Central Valley
San Jose is the Capitol City of Costa Rica. The majority of Costa Rica's 4 million denizens reside here and in the Central Valley. San Jose isn't for everyone. Congested, confusing, and not at all attractive by most foreign standards, it is not a place I recommend for a vacation home. Having said that, it is not all bad. Parts of the Central Valley are gorgeous, such as Escazu, Santa Ana, and up into the surrounding mountains. Also, if you cant live without some of the creature comforts you find back home such as Bagels, TGI Friday's, Malls, modern hospitals, than this area may just have what you are looking for. Prices for Real Estate in the Central Valley are all over the map from properties in the tens of thousands to the millions. Back to Top
Atenas
This is a sleepy little town and in my opinion one of Costa Rica's best kept secrets. You won't find it on most tourist maps and I go back and forth about how I will feel when it starts showing up on them. But the cat's slowly making its way out of the bag no matter what my opinion may be. Atenas has but one real claim to fame. National Geographic once ranked the weather here as the 12th best in the world. Twelfth is pretty good should you ask me. Another nice aspect of Atenas is its central location, only 20 minutes from Juan Santamaria International Airport, 1 hour from the beach and 1 hour from downtown San Jose. Crime is almost unheard of here and the people that call this place home all watch out for one another. Land prices are varied but even what is considered high end here is still well below anything you will ever find that is comparable in the States. Sweeping million dollar mountain views for pennies on the dollar. Any investment here is almost guaranteed to appreciate. Back to Top
Grecia
Grecia is close to Atenas, so it shares similar weather, which means, fantastic. Grecia has won the award for the cleanest city in Latin America on more than one occasion. It is an agricultural town, like Atenas, but is considerably more active with its 2 malls and small museum. The prices for Real Estate here are good overall. Close to the airport, beaches, and San Jose. Back to Top
Playa Jaco
Jaco Beach is the party zone here in Costa Rica. The black sand beaches are famous for their surf and they are the closest to San Jose and Juan Santamaria Int. Airport. Over the years, Jaco has gone through quite a transformation. From a sleepy little beach community, to a thriving town boasting some of the highest property values in the country. A good deal here can be hard to find. But, if what you're looking for is nonstop action, adventure, fine dining, modern conveniences, & the beach all rolled into one, than this is it. Condos are your best bet in Jaco these days. You can find many different price points as the developers are making more concessions due to the slow down in sales. Centrally located on the Pacific Coast it's a great jumping off point for any one of a number of tours and excursions. Los Suenos resort, 10 minutes away offers a championship golf course and the largest marina in all of Central America. Playa Jaco is also well known for its surf. Back to Top
Playa Herradura
Located only minutes from Jaco, Herradura is coming into its own. Land prices are friendlier here than in Jaco, however, many problems involving legal land titles have plagued this area for years. With the right people working for you, buying property here will not be a problem. The beach is popular with Costa Ricans as the waves are much calmer than in Jaco. This is also the home of Los Suenos Marriott. A mega resort, with its super high end condos, golf course, marina, restaurants, etc...Back to Top
Playa Hermosa
Less than 10 minutes south of Jaco you will find Hermosa Beach. Famous worldwide for its surf, this is not a beach for swimming. Dangerous riptides await the casual swimmer, so beware. Considerably more Bohemian than its neighbor to the North, the beaches and hotels here cater to the young surfing crowd. Condos and housing developments have started creeping in and many different price points can be found. Back to Top
Playa Esterillos
Esterillos is one of my favorite black sand beaches. It stretches for miles and is suited for swimming and surfing. Great place for beach combing, I think most people would love the very laid back, tranquil, atmosphere that this area brings. You can walk stretches of this beach for hours without ever seeing another soul, which can be tricky in any part of the world. Land prices here are decidedly more expensive than one might think. Deals can still be found, but they are becoming far and few. Development of the area has begun and this is driving up property values. Back to Top
Quepos / Manuel Antonio
Quepos is a working town and will not hold much appeal for investment. Quepos is located an hour and a half south of Jaco. A marina here does offer some of the best fishing in the country. The real gem of this area, is through town, and up to Manuel Antonio Park. Manuel Antonio is a National Treasure, with pristine white sand beaches, and calm waters, it is one of my favorite places to visit. When in the park you will see white faced capuchin monkeys running in the sand and through the trees. 3 Toed Sloth's can readily be found when looking up, and an over all feeling of the magic of nature can be felt in this place. Prices here vary but tend to be expensive. Remember though, when I say something is expensive here in Costa Rica, it is still but a fraction of what you might pay for for the equivalent in the States. Back to Top
Montezuma
Located on the tip of the Nicoya Peninsula, and across the bay from the Jaco Beach area, this sleepy beach town is a nice change from some of the busier towns. You can easily reach Montezuma by water taxi from Herradura, or, take the ferry from Puntarenas. If going by car it is a long and sometimes difficult trip depending on how the roads are. This is the kind of place you look for when all you want to do is get away from it all. Nature, in all its forms, abounds in this area, and you will not likely find a more peaceful setting anywhere. One thing about Montezuma is that it is small. The beach is relatively small, the town is small, etc... Back to Top
Arenal Volcano / La Fortuna
Ah, the mighty Arenal Volcano. This area is lush and beautiful. With an abundance of hot springs, the countries only lake worth mentioning, and let us not forget one of the worlds most active volcanoes looming over you. The closest town to the volcano is called La Fortuna and is a nice clean mountain town. Most of the area is geared towards tourists but more and more people are calling this area home. Lake Arenal, is an immense 38 square mile body of water located at the base of the volcano, and is considered to be 3rd best for its world class wind surfing. I will never forget the first time I saw Arenal at night. Relaxing in the hot springs while watching lava spew from the top of this 5000 foot giant. I have never felt so humbled in all my life. It was an amazing experience. This area is almost smack dab in the middle of the country. It seems like it is about 4 hours away from just about everything, which at first may seem impossible, trust me, it isn't. Land prices here cover the whole spectrum but are certainly cheaper than many places of interest. Maybe it's that big volcano that keeps things cheap...hmmm... Back to Top
Monteverde
What can I say about this place. Top of the world comes to mind. Monteverde is located close to Arenal as the crow flies. Situated high in the mountains, on a clear day you can see for miles. Famous for the cloud forests found here, Monteverde is worth taking a look at. Like Arenal the area is geared towards tourists. Sky bridges traverse the cloud forests here and a myriad of colorful hummingbirds can be found buzzing around your head at times. Deals can be found in Real Estate but you are cut off from the types of infrastructure you may find in lowlands. Back to Top
San Ramon
Known as the city of poets. San Ramon is a nice quiet town but still quite a bit larger than say Atenas. A working town, it is off the tourist radar, which is fine with most of the folks that live here. Real Estate Deals can be found more readily in this area than some others. The location of San Ramon is convenient to Arenal and Monteverde for day trips, and is a viable option for an investment property or vacation home. Back to Top
Puerto Viejo
Located on the Caribbean side of Costa Rica, Puerto Viejo, and the entire coast feels like an entirely different country. Having more of an island feel, than anything else, it is a melting pot of Latin and Island Culture. The Caribbean coast has not done as well in terms of development. With only 2 months for a dry season (Oct.& Nov.) and considerably less infrastructure than the rest of the country, it is not for everyone. The surf is good, and the land beautiful, but this would not be my first choice for a vacation property or retirement. Having said that, if this sounds like what you might be after, we do know some good folks in Real Estate out that way. Back to Top
Tamarindo
The Jaco of the North. This is another town known for its party atmosphere. Outside of the Capitol San Jose, Tamarindo and Jaco are THE party towns. Tamarindo has been popular for years and with the new International Airport that has opened in Gunacaste, the area is booming. The further North you go, the dryer it gets. This holds true for Tamarindo. It is considerably dryer than any of its counterparts that I have gone over so far. Real Estate prices here are high, but, like Jaco, if non stop is what your after, than this may fit right into your Real Estate endeavors. The surf is good, and the beer is cold. Back to Top
LAND CONVERSION CHART
1 meter = 3.38 feet = 1.09 yards
1 sq. meter = 10.76 sq. feet
1 Manzana = 7000 sq meters = 1.73 acres
1 Hectare = 10.000 sq. meters = 2.47 acres
1 Acre = 4,049 sq. meters
1 Mile = 1.61 kilometers
1 Kilometer = .6214 miles
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